Kindred sees drop in harmful gambling revenue to 3.9%
Kindred Group has shared that it has seen a drop of 3.9% in the revenue that the firm obtains from harmful gambling during Q1 of 2021. This news follows after Kindred confirmed a while back that it was working on minimizing this amount and achieving 0% by 2023.
Henrik Tjärnström, Kindred Group CEO, said:
“Taking this step to report our revenue from harmful gambling has received positive reactions from many stakeholders and our hope is that other operators will follow. Gambling disorder is a global and industry wide challenge, which is why collaboration remains an important part of the solution. To ensure alignment across the industry we have invited researchers to help us improve PS-EDS and we are transparent on the methodology we use.”
Towards the beginning of the year, the company became the first ever gambling operator to share its revenue derived from harmful gambling, as Kindred pledged to launch its new ‘transparency metric’ as a portion of its safer gambling program.
During Q1 of this year, the revenue derived from harmful gambling had decreased down to 3.9% from the 4.3% the group had recorded during Q4 of last year. Some more standards concerning safer gambling saw the group witnessing a group-wide 1% rise in ‘improvement effect after interventions’, up to 76.6%.
Kindred has also shared that it had began collaborating with treatment centers. Aside from that, some changes in the boardroom saw the firm becoming the first ever iGaming company to include a ‘Sustainability Council’.
The CEO further explained saying:
“It’s encouraging to see a decrease in the share of revenue from harmful gambling for the first quarter of the year, however we need to be aware that the journey forward will not be a steady decrease. We expect to see the data increase in individual quarters but we continue to work towards our ambition. Reducing harmful gambling in society is a long-term process which requires a fact-based, open, and constructive dialogue among all stakeholders.”